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Hong Kong-based Orient Overseas International Ltd. (OOIL) said that it will sell Long Beach Container Terminal (LBCT) to a consortium led by Australia’s Macquarie Group for $1.78 billion.OOIL, which is majority-owned by Cosco Shipping Holdings, was the terminal operator under a lease agreement with the port.

Wave-generated power could be considered the Rodney Dangerfield of offshore renewable energy sources; it gets no respect. There have been a number of high-profile, expensive failures that have conspired to give the sector a poor reputation despite a number of engineering advances. A new entrant is SurfWEC offering a patented “surf-making” Wave Energy Converter which has been in development since

Moda Midstream LLC is considering building a second berth at its Ingleside, Texas, crude export terminal to accommodate booming shale oil production on the Gulf Coast, the company's chief executive said on Thursday.The expansion to the terminal that loads oil tankers will come as three major pipelines open in the second half of 2019, CEO Bo McCall said in an interview.

A U.S. government auction for three wind leases off the coast of Massachusetts ended on Friday with record-setting bids totaling more than $400 million from European energy giants including Royal Dutch Shell Plc and Equinor ASA.The Bureau of Ocean Energy Management (BOEM) announced the sale's three winners - Equinor Wind US LLC, Mayflower Wind Energy LLC, and Vineyard Wind LLC

The U.S. Army Corps of Engineers (USACE), Marine Design Center (MDC) will soon be releasing a sources sought notice for the construction of the Mat Boat, a 188 x 74 x 10-ftl. deck barge, for the Mat Sinking Unit (MSU) located on the Mississippi River. The barge is to be built to American Bureau of Shipping (ABS) Rules for Service on Rivers and Intracoastal Waterways.

Kirby Corporation has announced the signing of an agreement to acquire substantially all of CGBM 100, LLC's inland marine tank barge fleet for an undisclosed amount.Under the terms of the agreement, Kirby will acquire 27 of CGBM's 10,000 barrel inland marine tank barges which have a total capacity of approximately 270,000 barrels.

Aegean Marine Petroleum Network Inc. announced Tuesday that it has filed for chapter 11 bankruptcy protection as the New York listed marine fuel supplier is being investigated to determine whether there was $200 million fraud involving fake transactions with brass-plate companies.Aegean said it has financial support of Swiss strategic partner Mercuria Energy Group Ltd.

The United States on Tuesday announced sanctions on two Russian shipping companies and six vessels it said were involved in the transfer of refined petroleum products to North Korean vessels in violation of United Nations. restrictions.Russian Deputy Foreign Minister Sergei Ryabkov called the sanctions as well as other U.S. steps over alleged hacking, groundless, and promised a response.The U.S.

Envirocleanse LLC, division of Charter Brokerage LLC, a BERKSHIRE HATHAWAY company, has announced the submission of an application to the US Coast Guard for Type Approval of its patented inTank Ballast Water Treatment System. The Envirocleanse inTank BWTS is the only applicant to date which treats ballast water during the voyage.

More than $20 million in grant funding has been awarded to support capital improvement projects at 29 small shipyards in 22 states across the U.S.The funding, awarded through the U.S. Department of Transportation’s Maritime Administration (MARAD) Small Shipyard Grant Program, supports capital improvements that foster increased efficiency and economic growth.

Estern Shipbuilding Group announced it has signed a new contract with Bisso Offshore, LLC for the construction of two Robert Allan Ltd. RApport 2400 Ship Handing Tugs with escort capability. The deal was signed on May 31, 2018.Bisso Offshore is one of Eastern’s long term customers and has taken delivery of four previous modern Z-drive tugs from Eastern since 2006.

“To be a top performer, you must embrace technology,” said Søren Meyer, Chief Strategy Officer, Maersk Tankers, speaking at the Marine Money Week conference in New York on Tuesday.Meyer was referring to the industry-wide digitalization evolution currently underway in the tanker shipping sector, as part of a panel discussion with Frank Coles, President, Transas Group